PUBLISHER: The Business Research Company | PRODUCT CODE: 1470321
PUBLISHER: The Business Research Company | PRODUCT CODE: 1470321
Digital printing involves replicating digital images onto physical surfaces. Once the design is completed, it is digitally printed onto fabrics and seamlessly transmitted from the computer to the material. This method is employed for coloring fabrics and various other materials in the realm of digital textile printing.
The digital textile printing market consists of sales, by entities (organizations, sole traders and partnerships), of digital textile printing products (printers and other related products) that involve using inkjet technology to print colorants onto textiles and garments. This method allows for the production of single pieces, mid to small-run cycle production and even long runs as an alternative option to screen printed fabric.
The global digital textile printing market was valued at $1,749.84 million in 2018 which grew till 2023 at a compound annual growth rate (CAGR) of more than 9.0%.
Increasing Government Initiatives
The increasing government initiatives for the digital textile printing sector acted as a driver for the market during the historic period. The initiatives by governments in developing economies aimed at inducing investments in the sector and making it lucrative for business contributed positively to the market. For example, in April 2022, the Chinese government set some new goals aiming to increase the rate of recycling of textile waste from 20% to 30% by 2030. The government also plans to promote low-carbon textile production and improve the current textile recycling system and will increase investment in research and development for textile recycling technology. Also, in 2021, the government of India approved a special package for textile sector with an outlay of INR 60 billion ($751 million) to boost employment generation and exports particularly in Garmenting and Made-ups. Additionally, in 2022, the government invested over $658 million in Indonesia's textile and garment sector, up over 100% on the previous year, to boost employment and to support recovery from the pandemic. The increasing government initiatives towards the textile sector drove the growth of the digital textile printing market.
Developments In UV Gel Technology To Enhancing Quality And Efficiency
Technology development is a key trend in the digital textile printing market. Major digital textile printing players focus on new technologies, such as UV gel (ultraviolet gel) technology, to sustain their market position. The UV gel technology combines high printing quality, high performance and quick drying time in one procedure. UVgel technology separates the printing and curing processes, allowing the UVgel to have time to settle and produce a flat, even coating. For instance, in May 2021, Canon, a Japan-based information systems and professional and consumer imaging equipment provider, launched the Colorado 1630 UVG roll-to-roll printer. The Colorado 1630 is an industrial-grade printer with integrated UV gel technology. The new adaptable printer technology provides high productivity features, output quality and media diversity; lower operating costs; improved printer efficiency, decreased waste and about 40% less ink use.
The global digital textile printing market is concentrated, with a few large players operating in the market. The top ten competitors in the market made up 49.0% of the total market in 2022.
Digital Textile Printing Global Market Opportunities And Strategies To 2033 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global digital textile printing market as it emerges from the COVID-19 shut down.
Where is the largest and fastest-growing market for digital textile printing? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The digital textile printing market global report from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider digital textile printing market; and compares it with other markets.